What is SATS (Ordinals)? Detailed information about meme coin SATS

DTVz...1pWr

26 Jan 2024

Recently, BRC-20 tokens seem to have really returned with the impressive growth of BRC tokens including SATS. So what is SATS (Ordinals)? What is the reason why SATS and BRC tokens grow so strongly?

What is SATS?

SATS, initially promoted as one of the first meme coins on the Bitcoin blockchain, now allows the creation and transfer of BRC-20 standard tokens pegged to BTC units, known as satoshis. In just a short time, this coin has gathered a large community of fans. Additionally, it allows users to issue fungible tokens by writing specific files to satoshis.

Information about SATS. Source: Coingecko.

When it comes to SATS, the biggest impression that people think about it is its extremely large supply. The current total supply of SATS is 2,100 trillion, 100 million times more than Bitcoin.

Therefore, at the beginning, many users did not believe that this BRC-20 token could finally launch. But with very strong interest and belief from users, SATS - a meme coin named after Satoshi Nakamoto was finally born.

Application of SATS

With the expansion of the SATS community, UniSat - the largest wallet developer in the BRC-20 ecosystem also shows interest in this token. (UniSat Wallet is a Chrome plug-in wallet for the Bitcoin ecosystem, helping users store, mint and transfer BRC-20 tokens including buying and selling BTC, NFTs, domains,...).

On October 16, 2023, UniSat announced the use of SATS tokens as gas fees for its new product BRC20 - Swap. Each user trading on BRC20 - Swap will be charged a fee of 0.3%, of which about 1/6 (0.05%) of this fee will be collected by UniSat and the remaining 5/6 ~0.25% will be allocated to Liquidity Providers ( LP) provides liquidity on BRC20 - Swap.

UniSat uses SATS as transaction fees.

This fee structure is largely based on the exchange rate standards currently used by Uniswap. Regarding the use of fees, UniSat announced that it will donate 2% of its revenue to L1F (Layer 1 Foundation). In addition, UniSat also announced that it will publish the fully explained and verified code of BRC20 - Swap in the near future.

The story of meme coins adding additional utilities is not the first time it has happened in the cryptocurrency world. Previously, DOGE and Shiba caused heated discussions in the market when launching their own blockchain. This story comes from the consumption of swap fees. Through swapping BRC-20 tokens on UniSat, SATS tokens will be charged as transaction fees. This will cause users to consume a large amount of SATS tokens if the BRC-20 trend continues to explode in the future.

Currently, BRC20 and even the entire Ordinals ecosystem are still in the early stages, UniSat holds market share with great influence. SATS token is favored by UniSat and brings great expectations to the project itself as well as its holders.

Basic information about SATS token

SATS tokenomics

Token name: Satoshi token
Symbol: SATS
Standard: BRC-20
Contract: 9b664bdd6f5ed80d8d88957b63364c41f3ad4efb8eee11366aa16435974d9333i0
Blockchain: Ordinals
Total supply: 2,100T SATS
Maximum supply: 2,100T SATS

SATS Token Allocation

Updating…

SATS token exchange and SATS storage wallets

Currently you can buy SATS tokens on exchanges such as OKX, Mexc, Gate.io, Bitget, Kucoin,... Soon SATS will also be listed on the world's top 1 exchange Binance.

Binance announces SATS list.

You can store SATS on popular supporting wallets such as Metamask, Coinbase wallet, Coin98 Super Wallet,...

Project team and investors in SATS

Project team

SATS token was created by a group of anonymous developers with the goal of making Bitcoin more accessible and easier to use.

Investors

Updating…

Learn more about SATS tokens

Website: https://satscoin.vip/
Twitter: https://twitter.com/satscoin_brc20
Telegram: https://t.me/satsbrc20_community

summary

The SATS token and its strong price increase have created impressive highlights and attracted more attention when listed on Binance. Although many people consider this to be just a small recovery of BRC-20 tokens, with what is being built on the Bitcoin ecosystem such as BRC20-Swap, metaverse, NFT... this is also a factor. worth waiting for in the near future.

Let's look forward to information about SATS and Ordinals tokens on marginatm.